Communities help business grow

Hyderabad: Community trade organisations are giving greater impetus to businesses than the government, as these communities help get education loans from banks at concessional rates to build future entrepreneurs.

The loans are subsidised and they also provide a host of other assistance to the members.

Speaking on the sidelines of Jain International Trade Organisation’s Business and Lifestyle Expo in Hyderabad on Saturday, Surana group MD Narender Surana said, “Such organisations help entrepreneurs within the community take the first step in business world, which is the most difficult part. Also, through our meetings and conferences, we guide them and listen to their issues.”

The Expo was inaugurated by IT minister K.T. Rama Rao and commercial taxes minister T. Srinivas Yadav.

Though the government has been doing its bit, the focus is on improving the larger business scene while these communities work to improve the ground-level environment apart from helping out fellow businessmen, one member said.  

“If the business of one member is not doing well, we become their customers, buy 50 per cent of the products and ask him to sell the rest,” said Mr Surana.

The well-off business community organisations have corpus funds of about Rs 100 crore to drive growth of businessmen.